Increasing demand from end use industries such as aerospace, automotive, construction and medical will boost North America thermoplastic polyolefin market size. Trend to replace polyvinyl chloride with TPO across various sectors owing to rising environmental concerns will fuel market growth. Demand will also be supported by advancements in terms of functionalities such as durability, economical, lightweight, admirable abrasion resistant, UV light stabilizer & antioxidants to resist solar UV radiation and oxidation. It holds properties of both plastic and rubber. It is preferred in regions of extreme weather conditions as it protects the metal and non-metal parts exposed to severe heat. Growth in construction output tends to contribute towards North America Thermoplastic polyolefin industry demand as it finds applications in commercial & residential roofing. This can be attributed to its properties like weathering resistance and cold temperature flexibility. TPO roofing systems provide vital reflectivity and energy efficiency well as strong resistance to ultraviolet radiations. Hence usage of TPO in roofing systems reduces the heat gains of building. Technological challenges along with oscillating raw material costs, however, can impede the North America Thermoplastic polyolefin market during the forecast timeline.

Strategic Business Acquisitions and Collaboration Fuels the Growth of Thermoplastic Polyolefin Market

Companies are investing heavily and are entering into mergers and acquisitions to tap the cosmetic ingredient market potential North Americaly. Some of the market participants in the North America cosmetic ingredients market are BASF SE, The Dow Chemical Co., Ashland Inc., Rhodia, DuPont Tata & Lyle Bio Products, Sederma Inc., Sumitomo Group, etc. For instance, Sumitomo Group is expected to acquire active cosmetic ingredient business from Kyowa Hakko Europe GmbH in order to advance its cosmetic ingredient business in Europe.

The North America market for thermoplastic compounds is expected to reach US$ XX Bn during forecast timeframe. Increase in consumption of polymer products by end use industries like automotive while manufacturing automotive parts. It results good tensile strength, corrosion resistance and noise reduction when metal to metal contact incurred, in automotive parts. And it tends to boost the thermoplastic polyolefin market size. Thermoplastic polyolefin market is mainly driven by the growing demand for high performance and environment friendly material in construction and automotive industry. Additionally, the product is progressively being used instead of traditional thermoset rubbers and possess the capability to be entirely recycled.

North America has been is anticipated to continue on the dominant position in the years to come. The rapid growth of industrial & construction applications is the main factor behind the dominance of the North America thermoplastic polyolefin market. In addition, strict legislations pertaining to fuel conservation across the automotive industry is another significant factor that is supporting the growth of this regional North America thermoplastic polyolefin market. U.S. is expected to dominate the North America thermoplastic polyolefin market size throughout the forecast timeframe. Industrial & construction applications are likely to be the fastest growing segment in the region over XX% growth by 2023.

A wide range of stimulating expansions in material technologies were sprinkled in with some interesting declarations of new ventures in 2016. Regarding SABIC confirmed that it is assessing building a petrochemicals and derivative complex including polyolefin either in Texas or other in conjunction with an ExxonMobil Chemicals Co. affiliate. SABIC also announces that it will produce glass reinforced acetal for worldwide application in automotive, industrial and others by the end of this year. Moreover, it tends to increase the market size of thermoplastic polyolefin industry.

Key Findings of the Report:

North America thermoplastic polyolefin market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to an increase in the demand for cosmetic products across the country.

The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

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